BlackRock’s iShares Bitcoin Trust (IBIT) experienced a significant surge in investor interest on May 21, recording a net inflow of $530.6 million—the highest since May 5. This influx coincided with Bitcoin’s price climbing to $111,897, nearing its all-time high.
The trading volume for IBIT also reached levels not seen since January, indicating heightened market activity. Notably, the ETF acquired 4,931 BTC in a single day, surpassing the 450 BTC mined during the same period. Overall, U.S. spot Bitcoin ETFs collectively garnered $607.1 million in inflows, with Fidelity’s Wise Origin Bitcoin Fund (FBTC) contributing $23.5 million.
Bloomberg ETF analyst Eric Balchunas described the trend as a “classic feeding frenzy,” attributing it to Bitcoin’s recent rally. He noted that ETF trading volumes are expected to double their average flows.
Industry experts suggest that the momentum in Bitcoin ETF investments may continue, especially if macroeconomic factors, such as potential interest rate cuts by the Federal Reserve, come into play. Jeff Mei of BTSE highlighted that investors are increasingly turning to Bitcoin ETFs, which have seen $3.6 billion in net inflows in May alone.
